AA
Apple Inc
AAPL—
Apple Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative working capital (-17.7B TTM) means Apple gets paid before paying suppliers - a 70B payables float funds operations interest-free.[Working Capital TTM]
- Operating margin 32% TTM vs industry median 2.4% - 13x advantage drives 133B operating income on 416B revenue.[Operating Margin TTM]
- ROIC of 66.7% TTM with 1.34 debt/equity - exceptional capital efficiency despite 99B total debt load.[ROIC TTM]
Watch Triggers
- Gross Margin TTM: Falls below 44% — Services mix thesis breaks if hardware commoditization accelerates - 300bps drop = 12B profit impact
- Free Cash Flow TTM: Drops below 85B — Current buyback pace unsustainable below this threshold - signals capital return slowdown
- Accounts Payable TTM: Declines more than 10% — Supplier leverage weakening would unwind working capital advantage and reduce float
Bull Case
Cash generation machine: 98.8B FCF TTM (23.7% margin) with capex-light model enables perpetual buybacks reducing share count ~3% annually while maintaining 1.02 dividend.
Free Cash Flow TTMCapital Expenditure TTMDividends Paid Per Share TTM
Supplier financing moat: 70B payables vs 40B receivables creates 30B+ permanent float - Apple earns returns on supplier capital.
Accounts Payable TTMAccounts Receivable TTMWorking Capital TTM
Bear Case
Valuation stretched: P/S 9.9x is 3.3x industry median, P/E 37x above median 32x - limited margin of safety if growth disappoints.
P/S RatioP/E RatioMarket Cap TTM
Leverage rising: 99B debt at 1.34x equity with only 36B cash - net debt 63B limits flexibility if rates stay elevated.
Total Debt TTMDebt to EquityNet Debt TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
60%
Leverage AAPL's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
FCF generation will sustain 90B+ annual shareholder returns despite flat revenue growth
1-3yhigh
- 98.8B FCF TTM on only 12.7B capex (3% of revenue)
- Negative working capital amplifies cash conversion
- Services mix shift maintains 47% gross margins
FCF/revenue ratio 23.7% TTMGross margin 46.9% TTM stableCash flow 111.5B TTM exceeds net income
Multiple compression risk if revenue growth stalls below mid-single digits
1-3ymed
- P/E 37.3x vs industry median 32.4x
- P/S 9.9x vs median 3.0x - 3.3x premium
- 4.1T market cap requires growth to justify
Revenue 416B already at scale limitsP/B 56x reflects intangible valueEV/EBITDA implied ~29x
Valuation Context
Caveats
Public Strategies Rankings
See how Apple Inc ranks across different investment strategies.
Leverage AAPL's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.
AAPL Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$4.07T | — | ||
$4.14T | — | ||
37 | — | ||
$416.16B | +6.4% | — | |
$7.46 | +22.7% | — | |
32.0% | +0.5% | — | |
26.9% | +2.9% | — | |
$98.77B | -9.2% | — | |
1.7 | +14.0% | — | |
Beta 5Y (Monthly) | unknown | — |
AAPL Dividend History
54 dividends
11/13/25$0.2600
08/14/25$0.2600
05/15/25$0.2600
02/13/25$0.2500
11/14/24$0.2500
08/15/24$0.2500
05/16/24$0.2500
02/15/24$0.2400
11/16/23$0.2400
08/17/23$0.2400
05/18/23$0.2400
02/16/23$0.2300
11/10/22$0.2300
08/11/22$0.2300
05/12/22$0.2300
02/10/22$0.2200
11/11/21$0.2200
08/12/21$0.2200
05/13/21$0.2200
02/11/21$0.2050
11/12/20$0.2050
08/13/20$0.2050
05/14/20$0.2050
02/13/20$0.1925
11/14/19$0.1925
08/15/19$0.1925
05/16/19$0.1925
02/14/19$0.1825
11/15/18$0.1825
08/16/18$0.1825
05/17/18$0.1825
02/15/18$0.1575
11/16/17$0.1575
08/17/17$0.1575
05/18/17$0.1575
02/16/17$0.1425
11/10/16$0.1425
08/11/16$0.1425
05/12/16$0.1425
02/11/16$0.1300
11/12/15$0.1300
08/13/15$0.1300
05/14/15$0.1300
02/12/15$0.1175
11/13/14$0.1175
08/14/14$0.1175
05/15/14$0.1175
02/13/14$0.1089
11/14/13$0.1089
08/15/13$0.1089
05/16/13$0.1089
02/14/13$0.0946
11/15/12$0.0946
08/16/12$0.0946
AAPL Stock Splits
4 stock splits
08/31/201:4 split
06/09/141:7 split
02/28/050.5:1 split
06/21/000.5:1 split
AAPL SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/31/25 | 09/27/25 | 10-K | |
08/01/25 | 06/28/25 | 10-Q | |
05/02/25 | 03/29/25 | 10-Q | |
01/31/25 | 12/28/24 | 10-Q | |
11/01/24 | 09/28/24 | 10-K | |
08/02/24 | 06/29/24 | 10-Q | |
05/03/24 | 03/30/24 | 10-Q | |
02/02/24 | 12/30/23 | 10-Q | |
11/03/23 | 09/30/23 | 10-K | |
08/04/23 | 07/01/23 | 10-Q | |
05/05/23 | 04/01/23 | 10-Q | |
02/03/23 | 12/31/22 | 10-Q | |
10/28/22 | 09/24/22 | 10-K | |
07/29/22 | 06/25/22 | 10-Q | |
04/29/22 | 03/26/22 | 10-Q | |
01/28/22 | 12/25/21 | 10-Q | |
10/29/21 | 09/25/21 | 10-K | |
07/28/21 | 06/26/21 | 10-Q | |
04/29/21 | 03/27/21 | 10-Q | |
01/28/21 | 12/26/20 | 10-Q | |
10/30/20 | 09/26/20 | 10-K | |
07/31/20 | 06/27/20 | 10-Q | |
05/01/20 | 03/28/20 | 10-Q | |
01/29/20 | 12/28/19 | 10-Q | |
10/31/19 | 09/28/19 | 10-K | |
07/31/19 | 06/29/19 | 10-Q | |
05/01/19 | 03/30/19 | 10-Q | |
01/30/19 | 12/29/18 | 10-Q | |
11/05/18 | 09/29/18 | 10-K | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
02/02/18 | 12/30/17 | 10-Q | |
11/03/17 | 09/30/17 | 10-K | |
08/02/17 | 07/01/17 | 10-Q | |
05/03/17 | 04/01/17 | 10-Q | |
02/01/17 | 12/31/16 | 10-Q | |
10/26/16 | 09/24/16 | 10-K | |
07/27/16 | 06/25/16 | 10-Q | |
04/27/16 | 03/26/16 | 10-Q | |
01/27/16 | 12/26/15 | 10-Q | |
10/28/15 | 09/26/15 | 10-K | |
07/22/15 | 06/27/15 | 10-Q | |
04/28/15 | 03/28/15 | 10-Q | |
01/28/15 | 12/27/14 | 10-Q | |
10/27/14 | 09/27/14 | 10-K | |
07/23/14 | 06/28/14 | 10-Q | |
04/24/14 | 03/29/14 | 10-Q | |
01/28/14 | 12/28/13 | 10-Q | |
10/30/13 | 09/28/13 | 10-K | |
07/24/13 | 06/29/13 | 10-Q | |
04/24/13 | 03/30/13 | 10-Q | |
01/24/13 | 12/29/12 | 10-Q | |
10/31/12 | 09/29/12 | 10-K | |
07/25/12 | 06/30/12 | 10-Q | |
04/25/12 | 03/31/12 | 10-Q | |
01/25/12 | 12/31/11 | 10-Q | |
10/26/11 | 09/24/11 | 10-K | |
07/20/11 | 06/25/11 | 10-Q | |
04/21/11 | 03/26/11 | 10-Q | |
01/19/11 | 12/25/10 | 10-Q | |
10/27/10 | 09/25/10 | 10-K | |
07/21/10 | 06/26/10 | 10-Q | |
04/21/10 | 03/27/10 | 10-Q | |
01/25/10 | 12/26/09 | 10-Q | |
10/27/09 | 09/26/09 | 10-K | |
07/22/09 | 06/27/09 | 10-Q | |
04/23/09 | 03/28/09 | 10-Q | |
01/23/09 | 12/27/08 | 10-Q | |
11/05/08 | 09/27/08 | 10-K | |
07/23/08 | 06/28/08 | 10-Q | |
05/01/08 | 03/29/08 | 10-Q | |
02/01/08 | 12/29/07 | 10-Q | |
11/15/07 | 09/29/07 | 10-K | |
01/25/10 | 09/26/07 | 10-K/A | |
08/08/07 | 06/30/07 | 10-Q | |
05/10/07 | 03/31/07 | 10-Q | |
02/02/07 | 12/30/06 | 10-Q | |
12/29/06 | 09/30/06 | 10-K | |
12/29/06 | 07/01/06 | 10-Q | |
05/05/06 | 04/01/06 | 10-Q | |
02/03/06 | 12/31/05 | 10-Q | |
12/01/05 | 09/24/05 | 10-K | |
08/03/05 | 06/25/05 | 10-Q | |
05/04/05 | 03/26/05 | 10-Q | |
02/01/05 | 12/25/04 | 10-Q | |
12/03/04 | 09/25/04 | 10-K | |
08/05/04 | 06/26/04 | 10-Q | |
05/06/04 | 03/27/04 | 10-Q | |
02/10/04 | 12/27/03 | 10-Q | |
12/19/03 | 09/27/03 | 10-K | |
08/12/03 | 06/28/03 | 10-Q | |
05/13/03 | 03/29/03 | 10-Q | |
02/10/03 | 12/28/02 | 10-Q | |
12/19/02 | 09/28/02 | 10-K | |
08/09/02 | 06/29/02 | 10-Q | |
05/14/02 | 03/30/02 | 10-Q | |
02/11/02 | 12/29/01 | 10-Q | |
12/21/01 | 09/29/01 | 10-K | |
08/13/01 | 06/30/01 | 10-Q | |
05/14/01 | 03/31/01 | 10-Q | |
02/12/01 | 12/30/00 | 10-Q | |
12/14/00 | 09/30/00 | 10-K | |
07/31/00 | 07/01/00 | 10-Q | |
05/11/00 | 04/01/00 | 10-Q |